Research & Development tax credits are calculated based on your businesses’ qualifying research and development expenditure. Qualifying expenditure is identified and enhanced through the relevant rate to produce your enhanced expenditure. This will give your company a cash credit if you were loss-making, a corporation tax reduction if you were profitable, or an amount based on a combination of the two.
Research & Development tax credits benefit companies exponentially. The SME scheme has a rate of R&D expenditure tax relief of 230%, with the large company scheme at a rate of 130%. Through these schemes, you can improve your company’s financial strength, save money on your tax bill or reinvest into innovative projects in the future, for an even larger tax claim next year.
Do you want to see if you are eligible for an average claim of £54,000? Then speak to one of our R&D specialists in SHENCOH team.
For a free, no-obligation consultation.
Call us on 0161 757 3657 or email at email@example.com
Or use Shencoh’s R&D eligibility checker.